Tesla Just Announced The Latest Model 3 Production Delay

Tesla misses its Model 3 deliveries by a mile (TSLA)

Tesla produced 2,425 of its new Model 3 electric cars in the fourth quarter and delivered 1,550, missing Wall Street expectations as the company led by Elon Musk tries to solve production bottlenecks that have forced the company to dial back its own mass manufacturing goals. Instead, the firm is now saying it'll be making 2500 Model 3s a week by the end of this quarter, hitting the 5000 mark by the end of Q2. As expected, Model S and Model X production was down in the quarter to make room for the Model 3. Musk had previously predicted that Model 3 production could be ramped up to 20,000 cars per month by December. Model 3 deliveries to non-employee customers are now accelerating rapidly, and we're confident our customers will love them. This is the second time Tesla has punted on its 5,000-per-week milestone.

Analysts have again expressed concern over whether Tesla can secure the gross margins on the cars it is aiming for, whether customers will still want the vehicle, and how slower production rates affect the company's other capital-intensive ambitions.

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It may have been a rough 2017 for Tesla, but the Palo Alto-based automaker can boast about hitting one projection it made last year: more than 100,000 of its vehicles were delivered in the year.

Traders will now turn their attention to the the company's fourth-quarter results, which are due out on February 21. The slowdown may mean the auto is tougher and more expensive to manufacture than the company had thought, Brinkman said.

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"The Model 3 must be right in terms of quality".

Of the Model 3s assembled in the fourth quarter, Tesla delivered 1,550 to customers, although numerous initial recipients were employees of the company. "Ramping up production levels with a flawed product is foolish". This was once again our all-time best quarter for combined Model S and X deliveries, representing a 27% increase over Q4 2016, and a 9% increase over Q3 2017, our previous best quarter.

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The company said another 2,520 Model S and X vehicles and 860 Model 3 vehicles were in transit to customers at the end of the quarter. These will be counted as deliveries in Q1 2018.

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